BUSINESS

MATRADE DEBUTS CUSTOMISED MARKET IMMERSION MISSION INVOLVING MID-TIER COMPANIES

27/11/2023 11:04 AM

KUALA LUMPUR, Nov 27 (Bernama) -- Malaysia’s trade promotion agency, Malaysia External Trade Development Corporation (MATRADE), is debuting a customised market immersion mission to Germany involving Malaysian mid-tier companies (MTCs) from yesterday until Nov 30.

MATRADE deputy chief executive officer Abu Bakar Yusof explained that Malaysian MTCs, particularly those under MATRADE’s Mid-Tier Companies Development Programme (MTCDP) have demonstrated their strong readiness in global business and this is further strengthened through their adaptability to sustainability adherence.  

“We believe that the MTCs’ improved readiness in sustainability can catalyse Malaysia’s value-added proposition to potential buyers in Germany.

"Out of the initiatives undertaken, 60 per cent were focusing on environmental measures, 29 per cent on social and the balance of 11 per cent on governance,” he said in a statement today.

Abu Bakar said the initiative is part of MATRADE’s efforts to strengthen Malaysia’s branding as a hub for sustainable sourcing in view of the Sustainability Due Diligence Act recently imposed by the European Union (EU). 

Besides that, he also said Malaysian MTCs will be engaging with several German companies such as Siemens AG, Volkswagen AG and its football club VfL Wolfsburg apart from networking with business communities in Germany.

Trade commissioner of MATRADE Frankfurt, Zuhaila Sedek commented that the mission provides an opportunity for Malaysian MTC to gain on-the-ground insights into the German industries and megatrends that are currently taking place in the market.

The MTCDP targets to promote the marketability of export-oriented MTCs with annual revenues of between RM50 million to RM500 million for manufacturing companies and RM20 million to RM500 million for services companies.

--BERNAMA


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